Has The Big Move Started?
Yesterday we wrote that themetals were getting ready to make a big move in either direction based on thepattern that was being formed. Gold has rallied from a low of $1,304 and is nowtrading at $1,325, and silver has traded as low as $16.30, now $16.80. Has thebig move started?
Both metals are approaching keyresistance levels -- gold at $1,328 and silver at $17. If they can breakthrough those levels, the big move could be up. Failure at those levels keeps$1,280 in gold and $16 in silver as part of the equation.
The next couple of days are veryimportant in deciding if this is a real rally and the big move is up or this isjust a dead-cat bounce and the big move is down. This is a great time toobserve; like a great horse race, these markets can go either way.
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Bubba@bubbatrading.com www.bubbatrading.com/ Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.